American banking major JPMorgan Chase is planning to hire more than 5,000 people for technology roles in India, the Economic Times has reported citing unnamed sources.
Along with rivals Citigroup and Barclays, JPMorgan is one of the biggest employers in the country’s foreign banking space.
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Other than core banking operations, their India team operates in complex technology domains such as artificial intelligence, analytics and blockchain.
JPMorgan is looking to fill up the technology roles in 2022 itself as the bank focuses more on digital operations including big data and robotics.
The jobs will be offered in Hyderabad, Bengaluru, and Mumbai. In 2021, the bank hired 4,000 people in the country.
Confirming the plan, JPMorgan Chase Mumbai tech centre lead managing director Ravi Pasupuleti said: “Our India employees are being aligned to global product roles and are driving initiatives globally.
“Historically, leadership roles on product and tech sides have been based in the US, but now our employees in India are taking on global roles from India.”
Notably, around a third of the bank’s workforce is in India.
“Technology is critical to our business success,” Pasupuleti said, adding that “our hybrid cloud strategy is accelerating our modernisation journey.”
“We also continue to be laser-focused on cyber and how new technologies can help us to be more secure,” he noted.
In July this year, a top executive of German financial services group Deutsche Bank revealed that it aims to hire 2,500 people in India to strengthen its engineering and IT capabilities.
